Update June 15: After dropping to its lowest level since mid-May at $1,844 on Monday, the XAU/USD pair staged a modest rebound during the American trading hours but ended up closing the day in the negative territory.
Bill Diviney at ABN Amro further explained, ”at the same time, while Chair Powell might acknowledge that the Committee is now ‘talking about talking about’ a tapering of its asset purchases, we do not expect any concrete hints on this at the press conference.
Update: Gold price remains in the red zone, on its way to mark the second straight down day, as the US dollar holds the higher ground ahead of the FOMC meeting.
Attention now turns towards the US Retail Sales release for fresh impetus while the Fed begins its two-day monetary policy meeting later on Tuesday.
Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.
FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice.